Barclays Cuts JetBlue Airways (NASDAQ:JBLU) Price Target to $5.00

JetBlue Airways (NASDAQ:JBLU) had its price objective dropped by equities research analysts at Barclays from $7.00 to $5.00 in a report released on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s target price indicates a potential upside of 11.48% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of JetBlue Airways from $3.50 to $4.50 and gave the stock a “sell” rating in a report on Thursday, July 2nd. Seaport Research Partners cut shares of JetBlue Airways from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Susquehanna lifted their price target on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Bank of America increased their price objective on JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a research report on Wednesday, July 1st. Finally, UBS Group lowered their price target on shares of JetBlue Airways from $5.00 to $4.00 and set a “sell” rating for the company in a research note on Thursday. Seven equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $5.41.

JetBlue Airways Stock Performance

Shares of JBLU opened at $4.49 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 5.04. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -1.87 and a beta of 1.70. The stock has a 50 day moving average of $5.37 and a 200 day moving average of $5.12. JetBlue Airways has a 12 month low of $3.87 and a 12 month high of $6.62.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.03. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.69 billion. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. As a group, sell-side analysts forecast that JetBlue Airways will post -2.33 earnings per share for the current year.

Insider Buying and Selling at JetBlue Airways

In other news, CFO Ursula Hurley sold 77,253 shares of JetBlue Airways stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $5.76, for a total transaction of $444,977.28. Following the sale, the chief financial officer owned 211,099 shares of the company’s stock, valued at approximately $1,215,930.24. The trade was a 26.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 81,253 shares of company stock worth $465,897. Insiders own 2.41% of the company’s stock.

Hedge Funds Weigh In On JetBlue Airways

A number of institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its position in shares of JetBlue Airways by 85.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 12,124,292 shares of the transportation company’s stock worth $55,166,000 after buying an additional 5,591,470 shares during the period. Bank of America Corp DE bought a new position in shares of JetBlue Airways in the 2nd quarter worth about $20,022,000. Deutsche Bank AG lifted its position in JetBlue Airways by 1,157.9% during the 4th quarter. Deutsche Bank AG now owns 3,356,021 shares of the transportation company’s stock valued at $15,270,000 after acquiring an additional 3,089,226 shares during the period. Par Capital Management Inc. lifted its position in JetBlue Airways by 105.3% during the 2nd quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock valued at $23,212,000 after acquiring an additional 2,814,870 shares during the period. Finally, Primecap Management Co. CA bought a new stake in JetBlue Airways during the second quarter worth about $13,549,000. 83.71% of the stock is owned by institutional investors.

JetBlue Airways Company Profile

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.